Long Term Care Insurance
Plan ahead to protect your assets and independence.
More than half of the US population will require long-term care at some point in their lives. Long Term Care Insurance provides a way to fund a future need for care at home, an assisted living facility, or a nursing home.
Take a look at the costs and statistics of long-term care:
In 2000, the annual cost estimates for adult day care were $13,000 and $25,300 for assisted living. (American Council of Life Insurers, 2000)
The 2006 average daily rate for a private room in a nursing home was $206 ($75,190 annually) – a 6.8% increase from the 2004 rate of $192. (MetLife Market Survey of Nursing Home and Home Care Costs, 2006)
In 2007, a private room will cost over $250 per day ($94,000 annually), and if costs grow 10% annually, by the year 2037 one year of care will cost $1,633,152. (MetLife Market Survey of Nursing Home and Home Care Costs, 2006)
By 2030, many retirees will not have enough income and assets to cover basic expenditures or any expenses related to a nursing home stay or service from a home health provider. (Employee Benefit Research Institute, 2003)
60% of people over age 75 will need long term care and will need care for approximately 3 years. (Business Week)
Why use your hard earned income and assets to fund your Long Term Care? We can help you fulfill your needs at a price you can afford.